Barcodes, a portfolio company of Cortec Group, has acquired OCR Canada. This is the first add-on acquisition completed by Cortec for Barcodes since it acquired the company in November 2012.
OCR provides automated identification and data capture equipment and services to companies throughout Canada. OCR provides data capture, mobile computing, and wireless infrastructure products along with custom software applications and onsite integration and support services to over 8,000 customers. The company was founded in 1972 and is based in the Toronto suburb of Markham (www.ocr.ca).
Barcodes is a distributor of automatic identification capture products, selling primarily to small and medium-sized businesses and Fortune 500 customers. The company’ products include barcode scanners, mobile computers, label printers, point-of-sale systems, identification cards, RFID equipment, and other related consumable products. The company is based in Chicago (www.barcodesinc.com).
“The combined product lines and software and professional services capabilities of these two companies provide meaningful opportunities for future growth throughout North America. We look forward to working with the OCR team to continue to expand on its leadership position in the Canadian automatic identification capture market,” said Cortec Partner Mike Najjar.
Cortec Group invests in middle-market distribution, healthcare, consumer, and specialty products and service businesses with enterprise values of $40 million to $300 million. Cortec currently manages over $1 billion in its two active funds. The firm was founded in 1984 and is based in New York (www.cortecgroup.com).
“Our goal is to make capturing and managing enterprise data easier than ever before for our customers. With OCR’s leadership position in enterprise mobility, RFID, and barcode solutions in Canada, we will combine our strengths to provide a greater product, software and professional services offering to our customers across North America,” said Dan Nettesheim, CEO of Barcodes.
2014 PEPD • Private Equity’s Leading News Magazine • 12-18-14